Kerala should model Singapore: Credai

KOCHI: Amid rising shortage of ready-available land for realty and construction projects, Kerala could look at places like Singapore for a model in housing development, said S N Raghuchandran Nair, chairman of the Kerala chapter of Confederation of real estate Developers' Association of India (Credai). He was talking to the reporters in Kochi on Thursday after announcing 'Credai Conclave 2013', to be held in Delhi on December 13 and 14. The conclave will focus on the theme 'Housing: the game changer leading to double digit growth'.

Real estate has become the largest industry in the state while it is holding the second position in the country. However, the state is left with only 30% of its overall land for realty development, he noted.

"Construction sector now contributes 6.3% of of GDP and it generates Rs 50,000 crore turnover annually in Kerala," he said.

Nair complained that the delay in getting all the necessary clearances in Kerala is one year. "As the project is delayed, the consumers have to bear the interest cost and the increase in building costs," he said. According to a data research conducted among roughly 300 projects by the Cochin Chamber of Commerce and Industry (Cfor Credai-Kochi, 65% of the applicants had to wait for more than three months to get KSEB connection and 101 completed projects still require tanker water.

Real estate developers were of the opinion that as long as the real estate prices continue to be high in the state, affordable housing wouldn't be possible in Kerala.

KOCHI: Almost 20 years after it revised the property tax for commercial and residential buildings in the city, the Kochi corporation is all set to implement an overhauled tax regime in two months, which is expected to swell their coffers by an additional Rs 20 crore next year. Currently, the civic body's annual levy from property tax stands at Rs 80 crore.

KOCHI: With the government deciding to reduce the width of Thammanam-Pulleppady road to 18 metres from the proposed 22 meters, the Kochi corporation has a new headache on what to do with the land acquired for the original plan to widen the stretch.

THIRUVANANTHAPURAM: The district administration, set for an eviction drive of street vendors without even framing a proper policy for them, might want to take a look at the Bhubaneswar municipal corporation.

KOZHIKODE: The city corporation's facility to submit building plans online has hit a roadblock as the civic body is finding it difficult to extend the scheme owing to technical anomalies. The Kerala Conservation of Paddy Land and Wetland Act, Fire and safety regulations and Coastal Regulation Zone Act are yet to be incorporated with the software used.

KOZHIKODE: Putting an end to the three year long delay in finding a contractor for the government Cyberpark project, billed as the cornerstone of IT dreams of North Kerala, the meeting of the board of directors of Cyberpark held here on Thursday decided to award the work contract of the Rs 44 crore IT building project to a Kochi- based company.

KOCHI: The district administration has decided to acquire land for the construction of 12 Metro stations on a war footing. The decision in this regard was taken at a meeting convened by the Kochi Metro Rail Ltd (KMRL) on Thursday. The administration has to acquire land in Aluva west, Thrikkakara north, Edappally south, Ernakulam and Poonithura villages.